Chainlink's price has quietly risen over 5% in the last 24 hours, trading near $24.90 despite the cooling crypto market. However, one key indicator is signaling a potential rally pause.
Chainlink Price Dynamics and Analysis
Year-to-date, LINK has gained over 140%. Based on current momentum and historical behavior, the price could target $30.67 in the near term.
Whale Activity and Exchange Flows
Recently, a whale acquired nearly 1 million LINK worth about $21.25 million. However, inflows to exchanges exceeded $30 million, possibly indicating profit-taking by some holders, which could slow down price growth.
What Traders Should Watch For
If Chainlink holds above $23.50, it suggests bullish sentiment. Monitoring for renewed investment demand is crucial. Confirmation of growth could see $30 within reach.
Chainlink has shown significant gains and increased usage in DeFi. However, rising exchange inflows coupled with declining new buyer metrics may indicate a temporary slowdown. The long-term outlook remains positive.
